What is the process of succession planning?

[vatsallya-lamgadey-926c32c9 (Vatsallya Lamgadey)]

Succession Planning and Management Five-Step Process

1. Identify Key Areas and Positions.
2. Identify Capabilities for Key Areas and Positions.
3. Identify Interested Employees and Assess Them Against Capabilities.
4. Develop and Implement Succession and Knowledge Transfer Plans.
5. Evaluate Effectiveness